Baosteel to cut steel prices for Nov
Published: 11 Oct 2009 22:47:52 PSTOct. 12, 2009 (China Knowledge) - Baoshan Iron and Steel<600019>, a leading steel producer in China known as Baosteel, will cut its prices for major steel products in November by RMB 250 to RMB 500 per ton, sources reported. According to a statement Baosteel released on Saturday, Baosteel will slash the prices of hot- and cold-rolled steel products by RMB 400 per ton. Prices of thick steel plate and electrical steel will also be cut by RMB 400 per ton. The price adjustment, following a price cut for major steel products in October, shows that the market prices of steel products will continue to decline. Shares of Baosteel dropped 2.08% to RMB 6.61 as of 2:08 pm. Copyright © 2009 www.chinaknowledge.com |
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